Egypt

Egypt to launch 2 oil, natural gas exploration tenders by end-2023

Published on : 2023-06-16

Egypt is planning to offer two tenders for oil and gas exploration in at least 16 blocks south of the country and across the Mediterranean by the end of 2023, two government sources told Asharq Business on June 14th.

One of these tenders will be launched for exploration in 8 blocks affiliated with the Egyptian General Petroleum Corporation (EGPC), while the second one will be for oil and gas exploration in at least 8 blocks affiliated with the South Valley Egyptian Petroleum Holding Company (Ganope), one source noted.

It will be the first time for Ganope’s blocks to be offered for bidding since 2019, the other source said.

ADES wins jackup drilling contract in Egypt

Saudi-listed ADES Holding Company said it has received a direct award of contract (DAC) from Suez Oil Company (SUCO) in Egypt for three jackup drilling rigs in the Gulf of Suez, which is expected to commence in the coming weeks.